At about noon today, the three major equity indexes are all trading lower following a weak report on US retail sales and a smaller-than-expected rise in business inventories. The DJIA is down about 23 points at about 12,851, the Nasdaq is down about 11 points at around 2,921, and the S&P 500 is down about 5 points to 1,347. All have lost strength since this mornings opening. The dollar has gained strength against the euro, the British pound, and the Japanese yen, and the dollar index is up 0.31% at 79.381, up more than 0.2% from its pre-open level.
Among the major movers at around noon today are Syntroleum Corp. (NASDAQ: SYNM), Michael Kors Holdings Ltd. (NYSE: KORS), LivePerson Inc. (NASDAQ: LPSN), Energy Conversion Devices Inc. (NASDAQ: ENER), and Yingli Green Energy Holding Co. Ltd. (NYSE: YGE).
Syntroleum is up nearly 21% at $1.33. Volume is about more than 10x the daily average of around 425,000 shares traded. The biodiesel maker’s joint venture with Tyson Foods Inc. (NYSE: TSN) has signed a deal to distribute synthetic diesel fuel.
Kors is up more than 22% at $41.15 after posting a new 52-week high of $42.17 earlier this morning. Volume is about 2.5x the daily average of around 2.2 million shares traded. The apparel company posted better-than-expected earnings this morning and forecast current quarter earnings above estimates.
LivePerson is up more than 19% at $14.99 after posting a new 52-week high of $15.33 earlier. Volume is more than 6x the daily average of about 285,000 shares traded. The maker of customer contact software reported in-line earnings and revenues last night, and forecast more of the same for the current quarter.
Energy Conversion Devices is down more than -80% at $0.29. Volume is about 10x the daily average of 50,000 shares traded. The solar maker filed for bankruptcy this morning. We have more coverage here.
Yingli Green Energy is down nearly -10% at $4.77. Volume is already equal to the daily average of about 90,000 shares traded. The Chinese solar panel maker is among many other solar makers being affected by ECD’s bankruptcy and a likely cut in German subsidies. More coverage here.
Paul Ausick
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
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